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FOX News
Sep 6, 2010 5:00pm EDT
motors. >> glenn: great news, america. g.m. is completely fixed. check this out from the ceo ed whitaker from general motors. >> i'm here to announce we have repaid our government loan. in full, with interest. five years ahead of the original plan. >> glenn: i don't know where he is walking to, but ed, i'm glenn. why are you saying that? i mean, i'm thinking that if you want to be a company, that all americans can be proud of, maybe you shouldn't -- what did they call it -- lie to our faces. now it's spin. i'm picky that way. if paid in full with interest you mean we still owe $43 billion, well, well then, there is no spin there. that is what you hold, america. $43 billion. plus the minimum $12 billion in union pensions. yeah, g.m. for some reason is being allowed to say they have paid back $6.7 billion. so they paid it back! yeah. that may be confusing. you know, given the fact that g.m. loss $4.3 billion in the second half of 2009. now i don't know how you pay back gigantic loans when you are losing money hand over fist. but somebody does. tarp special inspector general neil barofsky i
Sep 19, 2010 8:00pm EDT
angry and when they become angry they remember that for very long time. the current gm is of the old gm. the current gm is of the old gm. the current gm started coming about in the late 1990's when they started paying more attention to quality and started paying more attention to basically how to please their consumers. the gm cars that you see now that everyone thought that people are raving about did not this happen in 2008. that started happening 10 years ago. the question is, now that they learned a painful lesson, will they continue with good management? here is still hoping that is the case. >> how many people do what you do in american newspapers? >> is hard to tell. -- it is hard to tell. >> there are not very many, are they? >> i am an odd fish. >> i am an odd fish. dan miller at the "usa today" always had this idea of the car industry is not the sum of its parts. there is a movement going on. i bring all of my historical baggage to cover it. people ask why you you are so willing to give general motors and ford a break. i have no problem in meeting it. i give them a break becau
FOX News
Sep 25, 2010 11:30am EDT
for dinner. coming up, they told us to bail out g.m. to keep the auto companies in the u.s. why is the u.s. government now trying to sell chunk of g.m. to china? then if this guy didn't get you fired up in his speech at the u.n., this will. guess what? you're paying for it. ♪ ♪ [ male announcer ] every siness day, bank of america lends billions of dollars, to individuals, institutions, schools, organizations and businesses. ♪ working to set opportunity in motion. bank of america. working to set opportunity in motion. [ technician ] are you busy? management just sent over these new technical manuals. they need you to translate them into portuguese. by tomorrow. [ male announcer ] ducati knows it's better for xerox to manage their global publications. so they can focus on building amazing bikes. with xerox, you're ready for real business. ♪ we need to finish tho projections ♪ ♪ then output the final presentations ♪ ♪ sally, i'm gonna need 40 copies, obviously collated ♪ wht's going on? when we're crunched for time, brad combines office celebrations with official business.
FOX News
Sep 25, 2010 10:00am EDT
grain cheerios. >> in 60 seconds. a double bailout whammy, gm handing out decisions to lawmakers and chrysler workers > >> if bailing out gm ticked you off, this might set you off. lifting the ban on so-called political contributions. 90,000 to candidates running in the elections, three democrats, two republicans in favor of the gm bailout. gary b. >> i tell you what, brenda, we should have a special segment on just things that the government is doing that are just totally ludicrous and don't make any mistake, gm is still owned by the government, basically-- or run by the government and still basically owned by you and i, so, why can't they just stick to making cars and returning our money is beyond me. why they're getting into the whole politics game. just try to make a car better than an and da or a toyota for crying out loud and return our money. no, it's the same stuff as before and it's ludicrous. >> brenda: jonas you think it's in the taxpayers best interest. >> first they came up with the pontiac aztec, a disaster. and the real shareholder in it this company, other companies want to d
Sep 20, 2010 6:00am EDT
. it makes people angry. and when they become angry, they remember that for a long time. the current gm was not just born in 2008 when we have the financial fallout. the current gm actually started coming about in the late 19th 90s when they started paying more attention to quality. they started paying attention to how -- to their consumers. the gm cars that you see now that everyone is raving about, that did not just happen in 2008. that started happening 10 years ago. now that they have learned the painful lesson, will it continue under new management? will they understand that the car is the thing. here is open. >> how many people do what you do in american newspapers? >> it is hard to tell, honestly. >> i am a lot before a number but there are not many. >> i am an odd fish. dan neal at "the new york times is an odd fish and the person that usa today. the three of us have this idea that the car industry is not just the sum of its parts. it is not just the latest new delhi. there is a movement going on here. i bring all of my historical baggage to coverage. people ask me why i am will
FOX News
Sep 24, 2010 1:00am EDT
hideous thing he did. ambassador bolton, next. >> do you know what gm did? that same gm that we own 61% of? it is coming up. ps, you might want to call an ambulance. did you hear what the vice president said about the tea party? [ male announcer ] what is performance? 0 to 60? or0 to 0? [ tires screech ] the quarter-mile, or a quarter-century? is performance about the joy of driving? or the importance... of surviving? to us, performance is not about doing one thing well. it is about doing everything well. because in the end... everything matters. the best or nothing. that is what drives us. see your authorized mercedes-benz dealer for exceptional offers on the c-class. . >> greta: ahmadinejad somehow tops himself. iranian president mahmoud ahmadinejad spoke to the u.n. general assembly today and many delegations, including the united states marched out during his speech. the "new york times" puts the number at 33. americans hit the road when ahmadinejad said some people think 9/11 was the work of americans to save israel. former u.s. ambassador to the united nations john bolton joins us li
Sep 29, 2010 6:00pm EDT
companies in maryland are pending as a result of bed bug infestation. >>> gm announced it will invest millions in transforming the whitemarsh project. and then the volt hits the market. >> reporter: governor martin o'malley checks out the new gm volt. gm's management is excited about it. >> that was cool. >> on an electric charge, you get 40 miles. then the small gas engine regenerates that. you get another 300 plus miles. >> reporter: maryland is benefiting. in january the automaker said electric motors will be produce duesed in whitemarsh. gm will invest $23 1/2 more to manufacture a new electric component. that adds 11 new jobs. >> it's a big financial investment and this is the beginning. this is the downpayment. this is about not jobs today but jobs tomorrow. >> so we got to work every single day to save jobs, create jobs and improve conditions that allow us to make the transformation. >> reporter: earlier this year it was announced that this part would be made at gm transmission. today they are making -- they say they're making another component but they wouldn't say what it is
Sep 14, 2010 4:30am EDT
automotive industry is that we have hit bottom and we are coming out. let's talk about gm it's about to become a public company again. are you having any discussions with gm's management about its role in your state over the next five years? gm is a home company so we want to make sure that they grow here. they have shed a awful lot of factories right here in michigan. we have put a lot of incentives on the table to ensure that their growth occurs in michigan. between our incentives and the incentives of the federal government they want to make sure that automotive manufacturing occurs in the u.s.. when you put our incentives on the table with it we are going to make sure it happens in michigan. there are other states with gm manufacturing as well but we are really bullish with what's happening in the automotive industry now. clearly we cannot declare victory there has to be more cars sold but i think we are today with this battery factory and the the fact that the electrification of the vehicle is happening. gm will come out with the vault before the end of this year. it will be an
Sep 28, 2010 12:18pm EDT
institutions of excellence pioneering new cyber security jobs and giving an old gm plant a jump start building electric motors. i'm barbara mikulski. i approve this message so you'll know i'm fighting for you. >> coming up this afternoon on oprah, jenny mccarthy opens up about her breakup with jim carey. tonight in the news at 5:00, closing the gender pay gap. we examine the issue of unequal pay. federal regulators are suing the company that makes pomegranate juice. did they go too far in their health claims? that and more at 5:00. now, your maryland lottery midday pick-3 and pick-4 numbers. >> good afternoon, your pick-3 numbers are 5, 4, 6 as pried on the ball. play keno now through october 24th for a chance to win free pick-3 plays. we have your pick-4 numbers. they are, 3, 4, 8, 0. the maryland lottery, let yourself play. >> one last look at the weather. >> that tornadoes system is moving east, so we have really seen the worst of it. tomorrow will be cloudy, around 74 degrees. moisture from what will likely become a tropical storm is moving up the eastern seaboard. we will be seeing highs
Sep 28, 2010 12:18pm EDT
investing in our institutions of excellence pioneering new cyber security jobs and giving an old gm plant a jump start building electric motors. i'm barbara mikulski. i approve this message so you'll know i'm fighting for you. >>> welcome back -- >> well, this is the eyewitness news noon broadcast. tomorrow, a calm day, 76; thursday, the remnants of what could be nicole and 77 and slow clearing friday afternoon and 72. look at the fall like weekend. temperatures in the mid-60s. we'll keep an eye on tropical depression number 16 unearned online. back inside. >>> it could be a really stormy, welt day thursday. >> well, thank you, bernadette. >> and thank you for watching eyewitness news ,,,,,,,,,,,,,,,,
Sep 20, 2010 4:00am PDT
coming up. >> bill, thank you. >>> remember the phrase, as gm goes, so goes the nation? well, a big part of the company may be bought by the chinese government. your early morning business headlines are straight ahead. >>> plus perpetual troublemakers paris hilton and lindsay lohan spend the weekend weaving their way through legal issues. >> another rough outing for brett favre, redskins and texans need overtime and a remarkable grab by randy moss. >>> you're watching "early today." >>> good morning and welcome back to "early today," i'm lynn berry and here are some of your top headlines this morning -- as the ballots are counted in this weekend's afghan parliamentary elections, observers of the vote are questioning its legitimacy. they're concerned about numerous fraud complaints. also, it appears some afghans were scared away by violence that killed 11. preliminary results are not expected until october. >>> a wave of attacks across iraq yesterday killed at least 36 people. it marked the worst violence there since the u.s. formally declared an end to combat operations. >>> and in calif
Sep 23, 2010 4:30am PDT
at 10,739. the nasdaq was off by 14 points to 2334. gm reportedly plans to sell a majority of shares in the upcoming ipo to u.s. investors. the company will be setting a low share price in the 20 to $25 range through a stock split. this is a common move to attract more retail investors. without a split, the government said gm would have to price at $134 apiece for taxpayers to recoup the $40 billion bailout of the auto maker. you can get your piece of gm if you so desire. back to you. >> blockbuster declared bankruptcy. shares for netflix jumping. shares gained 6.61% to close under $157. this move by blockbuster into chapter 11 will allow them to focus on digital description and close hundreds of stores. today's news has no effect on your account. you still have to return your movies. soon your morning jolt may have less to do with caffeine and more to do with price. the world's biggest coffee chain is raising prices. starbucks said it's due to the rising price of coffee beans. no word on which drinks will be priced higher, but the chain said they will focus on big labor intensive-dr
Sep 19, 2010 6:00am PDT
of g.m. on a visit to the motor city. did the management at general motors surprise you? >> i was shocked. >> reporter: in his new book "overall," ratner calls the company's bookkeeping mind bogglingly shoddy. >> it was the worst finance group we'd ever seen. >> reporter: the worst? >> pretty much. this is a company that could not tell you on any given day within $500 million how much cash it had. >> just updating the congressman on what's going on in the auto business. >> reporter: as g.m. came to washington bleeding billions in losses and begging for what would ultimately be a $50 billion bailout, ceo rick wagoner blamed the japanese, the unions and the economy, everyone but himself. was g.m. at all prepared for bankruptcy? >> no, they had done nothing. not only were they not prepared but rick wagoner had very specifically said he didn't want to prepare. >> reporter: what kind of position is that for an executive to take? >> frankly it's an irresponsible position. >> reporter: at what point did you decide that rick wagoner needed to go? >> quite early on. >> reporter: on mar
Sep 29, 2010 11:00pm EDT
in our institutions of excellence pioneering new cyber security jobs and giving an old gm plant a jump start building electric motors. i'm barbara mikulski. i approve this message so you'll know i'm fighting for you. ♪ storyteller: hey diddle diddle the cat and the fiddle the cow jumped over the moon. then quickly fell back to earth, landing on the roof of a dutch colonial. luckily, geico recently helped the residents with homeowners insurance. they were able to get the roof repaired like new. they later sold the cow, because they had all become lactose intolerant. call geico and see how much you could save on homeowners insurance. two governors, two different approaches. even in good times bob ehrlich did not make education a priority. he increased college tuition by 40%, cut school construction by $200 million, and ehrlich voted to eliminate the department of education while serving in congress. but martin o'malley, even in the toughest of times, has made record investments in public schools, new school construction, and o'malley froze college tuition four years in a row. with mart
FOX News
Sep 1, 2010 7:00pm EDT
that the country's shaky economy is keeping folks out of show rooms. ford's sales slipped 5%. g.m. down 7%. toyota down 12%. chrysler bucked the trend posting a 7% gain but overall, it was the worst for the auto industry in three decades. we had about 11 million on pace for the year. and sales drop was worse compared to august of last year when the government's cash for clunkers program was in full swing. remember, the program let folks trade in old gas guzzlers for rebates towards more fuel efficient cars. now the market may be getting another big boost when g.m. rolls out its much anticipated electric car, the volt. our mike tobin took a spin and he's live in motor city right now. how was the thing there? a test track, right? >> yeah, you know, shepard, it's not a glorified golf cart. the chevy volt drives like a real car and g.m. is banking on the idea that this is the vehicle that starts to make electric cars common place. g.m. promised an electric car that could charge its own battery and keep on driving. took a turn around the bankruptcy track and delivered the chevy volt. >> everything tha
Sep 22, 2010 6:30am EDT
jobs and giving an old gm plant a jump start building electric motors. i'm barbara mikulski. i approve this message so you'll know i'm fighting for you. if they have their way, we're facing a mountain of debt and a massive tax increase. employers will continue to leave our state, taking their jobs with them. the next four years will impact the next decade, so we've put together a road map to 2020. a plan that brings jobs back to maryland by reducing spending and lowering taxes. let's make the maryland we love not just good, but great. now let's get down to work. >> more than 300 students flashed their gloves. we are all in this together. a push to fight against cancer. this is called the pink love dance. >> we are counting down the days of the komen race for the cure. abc news will be live to broadcast the event. here is how you can you can help. >> an international shipping company is in big trouble this morning. and it comes from a note from baltimore. >> and we have more business for billion more, and we have is the two years of lacosse championship. >> we have the last few hours of
FOX News
Sep 18, 2010 11:00am EDT
out homeowners and g.m. -- >> david: and millionaire backers, by the way. >> now we're looking at $9 billion a year in default on federally guaranteed student loans. there is a simple solution. why don't you let the colleges lend their money instead of my money? if they are so sure that their degrees are worth something in the marketplace. >> david: emack, what do you think of that? >> i'm sick and tired of fat cat academics but i don't think the white house is doing orchestrated push to stake over the student -- take over the student loan program in the country. the terrible situation now is that student loan debt is surpassing credit card debt in this country. many parents say look, it's not worth it anymore to saddle our children this way. send our children off to a two-year community college and then for the final two years send them to ivy league school to try to pay to get that more important so-called important college degree. isn't worth it anymore. >> david: emac pointed this out, the fact is right now the student loan debt is $850 billion. that is more than the $828 billion
Sep 8, 2010 6:49pm PDT
for the vehicle. the cruze is the company's top seller worldwide this year. g.m. has high hopes for the vehicle, which it says has the amenities of a mid-size car, with the stingy gas habits of a compact. >> thomas: united healthcare could be facing a bitter pill in california. its pacificare unit is under fire by state regulators, who say it has botched medical claims and hasn't paid doctors properly. if the violations are confirmed, the company could be on the hook for almost $10 billion in fines. this isn't the first time united's pacificare has been in hot water. it paid $2 million to california to settle charges it refused to pay claims for h.m.o. policy holders.  >> susie: new figures show a record number of americans are dipping into their 401(k) accounts before retirement. financial planners say that should be a last resort, because of penalties and taxes. but tonight's "money file" has a slightly different view. here's eric schurenberg, editor- in-chief at and editorial director at >> in the past 12 months, one in every nine 401(k) participants has borrowed
Sep 25, 2010 1:00pm EDT
? because we were warned by ford if gm goes down it could take down suppliers which could then have a connecting affect to the other automakers. >> without the government's intervention gm would have run out of mope in 2009. they would have closed their doors. they would have liquidated. a million people would have been out of work. by the way as he said, ford would have shut down, too, because the suppliers weren't available. >> we weren't the company on the brink but he was making a strong argument. what surprised you most when president obama asked you to take over and went in and had a good insiders look. what shocked you the most? >> the state of general motors. i've been in business 20 years, been an investment banker, spent a lot of times around companies. i'm not sure i've seen a major company as dysfunctional. >> what was the president's response when you came back to report how dire things were in the auto industry, what were his thoughts? what did he have to say either directly to you or others who reported it to you? >> the president had been aware of this for sometime.
FOX News
Sep 1, 2010 5:00pm EDT
, $17 billion to g.m. or was that obama? or was that bush, too? i don't even know. they're almost interchangeable now. now maybe this bit of economic news will catch obama's attention since it involves his new company. after all of the bail-out, after all of the money, after everything, g.m. sales have plunged 25%. what has gone up? homelessness in new york is up almost 50% this year. one out of every six americans are now on some form of government assistance. let me put this in perspective. bring up a map. one out of every six americans. that's like saying everybody in the state of virginia is on government assistance or everyone in the state of florida is on government assistance or everyone in texas is on state assistance. that's not true. but one out of every six on government assistance is like all three of these states combined. do you have a concept now of how much we're in trouble? plus you have states that are completely upside down. i want to make it clear. not all of the states are upside down. they're not all running. it's just these states that are upside down. there
Sep 5, 2010 5:00pm PDT
temperatures. >> will do. >> gm hoping to lure in new customers this fall with the revealing of its new hybrid. a lot is riding on the volt but will it stand up to the competition? we have more from detroit. >> reporter: gm promised an electric car that could charm it's own batter why i and keep driving. took a turn around the bankruptcy track and brought the volt. 10,000 in november. >> it was developed mostly before the bailout but if the government hadn't stepped in to get it through it wouldn't be happening. >> reporter: the government stepped in with your tax dollars. gm got $50 billion. 240million-dollar grant from the energy department, 14 billion-dollar loan to retool plants, even the korean company that supplied the battery got 50 pool from taxpayers. >> it's like the space shuttle, limited, expense. but it's done amaze things for other industries in terms of materials research and fostering interest in engineering. >> reporter: it's the first mass production electric powered hybrid. you can plug it into a simple outlet and drive 40 miles an the battery. then the engine kicks
FOX News
Sep 1, 2010 11:00am EDT
cars, the chevy volt, gm's newest automobile, and you helped foot the bill, but some are calling this thing a dud. we'll take it for a spin, next. jenna: we have new information on the yemeni airline suspects, arrested in the amsterdam airport. harris, what do we know about what's going on there? >> reporter: it looks like they could possibly be released and very soon. there's word now coming from a spokesperson from the dutch prosecutor's office who is talking to the associated press, and there is now reportedly a 99 percent chance that the men who got on that flight from chicago that was stopped in the netherlands may go free. now, you'll remember, ahmed mohammed nasser al soofi was carrying pep to biz mole, cash, a knife, a box cutter, two cell phones taped together. some of the items were inside their luggage. dutch authorities stopped them. the plane was on its way to yemen, you'll recall. this was a few days ago. now according to the associated press after questioning these men who were suspected of maybe carrying out a dry run to see what would perhaps get through our secu
Sep 9, 2010 11:30am PDT
. >> and updating your status while you drive. how g.m. is it working to make that reaty. ♪ >>> we're gettg a preview today of a first of a kind toll lane coming soon to a stretch of 680 in the east bay. starting september 20th, solo commuters on the sunol grade will have the opportunity buy their way into the carpool lane. crews have gone restriping those lanes. it could be a bit confusing at first becae drivers will have three specific points wherthey can enter or exist those lanes. once the new lanes are active, carpoolers will be able to use them for fr but solo drivers with a fas trak tag will also be able to use the lane for a price. a little fee. >> just a little one. a long-time landmark along telegraph aven reopens after shutting its doors this summer. danish bakery closed in july after 81 years in business. a collective of employees has banded together with the taste of den narc. the taste of denmark plans to hold a grand opening next month. >> yummy, yummy! >> looks as good as the sunshine out there. >> does look nice. >> it does. if you like the clouds, we ve a few of
Sep 20, 2010 6:00pm EDT
pioneering new cyber security jobs and giving an old gm plant a jump start building electric motors. i'm barbara mikulski. i approve this message so you'll know i'm fighting for you. >> here is what we are working on for a 11 news at 11:00 p.m. trying to find a tristate serial robber. the political advertising wars are getting heated up -- ahead of the general election. of the general election. everyone knows a fee is a tax. you raised some taxes during that period, particularly the property tax as well as a lot of fee increases. as you know, there's a big difference between fees and taxes. but...they're the same. it's a tax. it's a tax. it's a tax. it's a tax. there's a big difference between fees and taxes. fees and taxes are one in the same. if it comes out of my pocket, it's a tax. now he says it isn't true. we didn't raise taxes. what? still doing the same thing, paying out more money. typical politician. definitely. old gibbs canning company. today these factories are full of dot com businesses. and now my job is helping maryland create new economy jobs. training new math and sci
Sep 22, 2010 6:00pm EDT
gm plant a jump start building electric motors. i'm barbara mikulski. i approve this message so you'll know i'm fighting for you. bob ehrlich pretends to be for the working guy... but he's not on our side. i thought i knew bob ehrlich, but then i found out... he raised property taxes on every maryland family... and business. he increased college tuition... by 40%. 40%. and i thought i knew bob ehrlich. he was against raising the minimum wage. made $2.5 million... working for a lobbying firm. $2.5 million? he's not really on my side. with this tough economy, we really need a governor on our side. >> it's supposed to be fall in a few hours. >> i can't wait. i'm so excited. >> we have a fireplace going. >> it still feels like summer. [crosstalk] a strong chance of a thunderstorm through the early part of the evening but the front wall not cool things off. highest tomorrow around 90. low 90s on friday and a cool front with some punch coming through friday night and saturday. in the mid-70s, good football weather on sunday. it's going to take a while for fall to get here. >> lookout perf
Sep 20, 2010 4:30am EDT
of stocks or currency. >>> investment bankers handling the upcoming gm stock sale are expected to court foreign investors as well as those in northern american according to the u.s. treasury department report. it is reported gm is in talks with a current partner in china saic about buying a stake in the auto giant. saic is owned by the chinese government. >>> and it turns out hunting is good business and has been doing well despite the recession. nearly 19 million people hunted with firearms last year. according to reports from the firearms and ammunition industry, the sale of sporting guns and supplies generated nearly $28 billion last year compared to about $19 billion the year before. and that is a lot of guns, terrell. >> absolutely. i hope that doesn't mean people are turning to hunt their own food instead of going to the grocery store and getting it. i hope we haven't gotten that bad. >> i hope not. >> ashley morrison. moving right along this morning, appreciate it, ash. talk to you soon. >>> straight ahead your monday morning weather. in sports, the manning brothers battle it out
FOX News
Sep 20, 2010 4:00pm EDT
business that made the deal with the union workers for g.m. it wasn't big business who picked which banks would succeed and fail. >>neil: you can look at wall street today and it has been positive things in the market and maybe times are better, they are getting better and the market is better, and the economy is getting better so your rage is misplaced. >>guest: it is not misplaced. the economy doing better, that is wonderful. and maybe it is because the tea party has gained so much ground and so much momentum that it is doing better. bill clinton said he wanted to ask what the tea party believed in, if we wanted to repeal the government taking over the student loan industry. absolutely, yes, we do want to repeal the overreaching government programs. if he wants to know where the tea party stands i have recommended reading for him and anyone else. the constitution and the bible. that's the tea party. that is what it is about. the secondary factors, like the big business and whether the private industry is taking over the little people, those things will fall into place if we get back to
Sep 20, 2010 5:00am EDT
ideas. get people busted. >>> remember the phrase as gm goes so goes the nation? well, a big part of the company may be bought by the chinese government. your "first look" at business headlines is straight ahead. >> another rough outing for brett favre, and a remarkable grab by randy moss. you are watching "first look" on msnbc. [ whistling ] [ dog barking ] [ sniffing ] [ male announcer ] missing something? like 2 pairs of glasses for $99.99 at sears optical, with bifocal lenses for just $25 more per pair. hurry in to sears optical today and don't miss a thing. what i wouldn't do for a do-over. [ female announcer ] neutrogena® clinical skincare helps restore collagen depleted skin to undo the look of a year's worth of skin aging in just 4 weeks. clinical skincare. neutrogena®. in just 4 weeks. so, we book a flight to hawaii using our points from chase sapphire. last minute... on christmas. and sitting next to us, chevy chase. and we really hit it off. we play golf, and then the luau. he's like da vinci with ice. and after, we help hang christmas decorations. wait, wait, wait. y
Sep 6, 2010 5:00pm PDT
. >> it was developed after the stimulus. >> reporter: gm got over $65 million of bail out money from congress and the energy department to save itself, retool its plant and develop a breakthrough battery from korea. all which will be integrated into a new generation of cars. >> it's a reproduction of the space shuttle. everything from materials, research and fostering and engineering. >> reporter: how does it work? you plug it into a simple outlet. once charged the volt will go 40 miles on the battery. only then does the gasoline engine kick in and only to create electricity. that buys you another 300 miles. now you can drive long range but the volt costs 45,000 miles. nissan's leaf costs less, but doesn't go so far on the charge. the chevy cruise costs $17,000. but gm's betting on the so called iphone effect. people lining up and spending extra just to be the first to get the latest technology and wrap themselves in a blanket of green. >> it was general motor's intend to be technology leaders again and the chevy volt is just that. >> reporter: now given it's limited production initially, vol
FOX News
Sep 22, 2010 9:00pm EDT
caused. >> sean: we have all the numbers. you highlight one case adelphi, part supplier for gm. you go into great detail this is one of many stories. we've heard from a lot of companies what they are saying financially the impact it going to be on their business just the health care mandate len. explain what you found in your research? >> i first mention add delphi on your a month ago. i've gotten hundreds and hundreds of -- letters from people with heart wren ing -- heartwrenching stories the loss of health care, life insurance benefits and the manner which is class fix chicago-style politics in which -- in which the white house auto task force trerbgs department and the united auto workers cut backroom deals to make sure union workers for adelphi were fully covered made whole on their pensions, -- at the same time salaried retiree counterparts people who worked as secretaries, engineers, designers, salespeople who dedicated decades of their lives to gm and to delphi were skewed in the deal. they lost 30 to 70% of pensions. the auto task force people knew this was wrong. they have now
Sep 20, 2010 3:05am PDT
of general motors. gm has planned its initial public stock offering for mid-november. there are reports an automaker owned by the chinese government wants to buy gm shares. the treasury department says there may be multiple foreign investors but there is no comment from gm on the possible chinese investment. >>> one of the world's most famous landmarks went up in flames, but it was all in the name of art. >> a virtual fire engulfed rome's colosseum as 100,000 people watched. the fake flames were the work of a husband and wife team. they used the world's biggest projectors to make it look like fire was burning through the colosseum. >> the couple said the goal of the $700,000 art project was to spark debate about the fragility of cultural heritage sites. what a scene. >> i can only imagine walking by that thing. i have to say, though, it doesn't look that real to me. i don't know that i would be -- i think when you really look at it you'd think, there's no flames on the outside. >> it's still cool. don't dampen dreams, vinita. >> sorry. >> they're trying. >> creative husband and wife. >>
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